Published on 5/30/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.41 million callable contingent coupon notes linked to indexes
By Angela McDaniels
Tacoma, Wash., May 30 – Barclays Bank plc priced $3.41 million of callable contingent coupon notes due Dec. 1, 2020 linked to the least performing of the FTSE 100 index and the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a coupon at an annualized rate of 8.4.5% if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
Beginning in May 2018, the notes are callable at par on any interest payment date.
If each index finishes at or above its barrier level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | FTSE 100, Russell 2000 and Euro Stoxx 50
|
| Amount: | $3,412,000
|
| Maturity: | Dec. 1, 2020
|
| Contingent coupon: | 8.45% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par plus final coupon; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par on any interest payment date beginning May 2018
|
| Initial index levels: | 7,517.71 for FTSE 100, 1,383.39 for Russell 2000 and 3,548.55 for Euro Stoxx 50
|
| Barrier levels: | 4,886.51 for FTSE 100, 899.20 for Russell 2000 and 2,329.96 for Euro Stoxx 50, or 65% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741VUP5
|
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